Frequently Asked Questions

AM I ELIGIBLE FOR A LOAN?

Any individual (including all collectors, artists and dealers) with a government-issued picture ID, like a driver's license, is eligible for a loan. Your artwork secures your loan.

WHO IS LEVART FOR?

Levart is an ideal liquidity instrument. Subject to the high transactional costs of private dealers or auction houses (10-25%), the inefficiency of selling at those venues, and the potential of capital-gains tax, we believe Levart is an ideal alternative to selling. Levart allows you to access the equity in your artworks instantly and allows you to keep ownership of your artwork.

DOES MY CREDIT SCORE MATTER?

Your credit score does not matter, nor do we conduct credit checks. We do collect personal information and may take a fingerprint in compliance with state collateral lending laws.

WHAT ARE THE INTEREST RATES?

We charge a simple interest rate of 4% per month.

WHAT ARE YOUR FEES?

There are no application or origination fees. All transportation and storage expenses are payable by the borrower.

HOW MUCH CAN I BORROW?

Levart's minimum loan amount is $5,000. We can loan up to $1,000,000 per artwork.

HOW WILL MY LOAN BE FUNDED?

Depending upon your preference, the loan can be funded by cash, cashier's check or wire transfer. Loan funding is instantaneous upon receipt of collateral and execution of loan agreement.

WHAT IS THE TERM OF THE LOAN?

Your loan is due four months after the date of signing. You may also opt to extend your loan at anytime, under the same terms.

IS THERE A MINIMUM TERM LENGTH?

Levart loans have no minimum length. All loans are charged 4% monthly on the calendar day of funding.

ARE THERE PREPAYMENT PENALTIES?

While we cannot prorate your interest payment for any period less than one month, we do not charge any prepayment penalties. Pay as soon as you'd like.

CAN I BORROW MORE?

We encourage you to borrow only as much as you need, however, you can collateralize as many works as you desire.

DO YOU TAKE POSSESSION OF ARTWORKS?

Per the terms of our lending licenses, we take possession of all works. Works can remain in storage at any of our partner facilities (most major art storage facilities) or, if size-appropriate, in one of our vaults in New York or Beverly Hills.

DO YOU REQUIRE PERSONAL GUARANTEES?

We do not require personal guarantees, nor do our loans have any recourse. In case of default, your pledged artwork will be relinquished in payment.

HOW LONG DOES APPROVAL TAKE?

We'll have an answer for you within 12 hours.

HOW LONG DOES IT TAKE TO GET CASH?

As soon as your artwork is released to us, you can immediately collect cash or a direct transfer at our physical locations in New York or Beverly Hills.

WHAT ABOUT PRIVACY AND SECURITY?

We adhere closely to the Federal Trade Commission's (FTC) Privacy Rules to protect all of your personal information. We do not sell or share any of personal information. Additionally, our lending partners are highly regulated on a state and federal basis.

WHY CAN YOU ONLY LOAN IN NEW YORK AND CALIFORNIA?

WHAT PERCENTAGE OF THE VALUE OF MY ARTWORK CAN I BORROW?

Our loan-to-value ratio varies between 25% and 80% based on trend analysis of past auction results and private sales.

HOW CAN I REPAY MY LOAN?

Repayment can be handled in cash, wire, or cashier's check by mail or in person at either of our physical locations.

WHAT IF I DEFAULT ON MY LOAN?

We make every effort that your artwork remains yours. In the unfortunate event that you cannot repay your loan, we will sell the collateral to recover our principal and interest. A default has no effect on your credit.

DO YOU HAVE ANY LOWER INTEREST OPTIONS?

A Levart loan is a nonrecourse loan, meaning your art serves as collateral and you do not need to offer a personal guarantee of repayment. A traditional recourse loan, where your default can be remedied by claim on your other assets, may offer a lower interest rate. We offer 2-4% APR traditional recourse loans with a minimum term of one year and principal of at least $1,000,000.

Your use of this website is not an offer or solicitation to lend you money. Levart,
Inc., the owner of this website, uses a pricing algorithm to determine a fair value
of your proposed collateral.

In order to provide applicants the best chance for approval, applications are
submitted to different lenders depending on location and collateral. Levart, Inc.
may guarantee your loan in exchange for a referral fee, however, Levart, Inc. is not
the state licensed lender of record. Short term loans are only available in the states of New
York and California. Completion of this application in no way guarantees that you
will be approved for any offer. In the event that you are unable to redeem your
pledged asset, it may be sold in order to recover the outstanding loan balance.